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Nigeria’s Debt Per Capita Hits ₦619,501 as Total Public Debt Rises to ₦134 Trillion
The National Bureau of Statistics (NBS) has reported that Nigeria’s debt per capita now stands at ₦619,501, following a review of the country’s debt portfolio for the second quarter of 2024.
The Debt Management Office (DMO) disclosed that Nigeria’s total public debt has surged to ₦134.297 trillion as of June 2024, marking an increase of ₦13 trillion from the previous quarter’s total of ₦121 trillion.
Based on Nigeria’s estimated population of 216.7 million, the debt per person averages ₦619,501. The DMO’s report breaks down the debt into domestic and external components: domestic debt stands at ₦71.2 trillion, while external debt totals ₦63 trillion.
Within the external debt figure, the federal government owes ₦55.8 trillion, and states owe ₦7.1 trillion.
Domestically, the federal government’s debt is significantly higher at ₦66.9 trillion, with states owing ₦4.2 trillion.
The rising debt has reignited discussions around Nigeria’s reliance on borrowing, with increased calls for the government to explore sustainable financing strategies to reduce the debt burden on citizens.
It has been reported that Niger State and some northern states have come together and agreed to take down 979 forests in order to strengthen national security.
This was revealed by the Niger State Governor, represented by his deputy, Yakubu Garba, at the passing-out parade in Mutum Daya.
He also shared that the government will support in any way they can in order to achieve this and strengthen security in Nigeria.
“The state will make necessary arrangements to support and empower the Forest Guard families for their service to the nation. We will provide them with adequate healthcare insurance scheme.”
Nigerian news analyst, Mahmud Jega, has shared his opinion on the recent airstrike carried out by the United States in Nigeria, stating that Nigerians should not blame President Bola Tinubu for the incident.
Jega made this statement during a recent interview, where he said he does not believe many people will hold the Tinubu administration responsible, as Donald Trump had issued threats against Nigeria long before Tinubu’s administration.
“No, I don’t think many people will blame the Tinubu administration for what is happening now because President Donald Trump, when he first made the threats, it was clearly not in coordination with the Tinubu administration or the government of Nigeria,” Jega said.
It has been reported that the United States carried out an airstrike targeting ISIS in the northwest region of Nigeria. The order was reportedly given by former U.S. President Donald Trump.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist elements in northwest Nigeria,” Trump said.
He added, “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.”
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